Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Speciality Fertilizer market.
Trusted Business Insights presents an updated and Latest Study on Speciality Fertilizer Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Speciality Fertilizer market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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The report covers forecast and analysis for the speciality fertilizer market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion). The study includes drivers and restraints for the speciality fertilizer market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the speciality fertilizer market on a global level.
The speciality fertilizer market size accounted for around USD 17.13 Billion in 2018, growing at a CAGR of 6.8% during the forecast period.
Speciality fertilizers are granular fertilizers which are used to enhance the quality of plant supplements and also physical and chemical attributes of the soil, which supports the plant growth, yield, and quality. Speciality fertilizers are mostly used in vegetable crops with developed root system and soil application of the fertilizers for rapid improvement of plant nutrition. Speciality fertilizers are considered as nutrients for plant growth regulators, pesticides, and herbicides in order to achieve productivity of crops. These fertilizers restrict the moisture contact and help to release fertilizer nutrients, generally over a few months or few weeks. Three major soil supplements include potassium (K), nitrogen (N), and phosphorus (P). These fertilizers aid to enhance quality and sturdiness of horticultural land. Such factors are expected to drive the global speciality fertilizer market growth over the forecast period.
Increasing demand for diversified food and decreasing arable land per-person coupled with rapid explosion of population across the world has lead to an increase in crop-yields in order to meet demand for food production, which is expected to increase the need for speciality fertilizers. The use of speciality fertilizers decrease the usage of nitrogen by 15-20% and it increases the yield by 10-15%. These fertilizers reduce the loss of nutrients and help in the acceptance of nutrients through steady nutrient release; thus, there has been increasing adoption rate of speciality fertilizers.
On the basis of crop type, the speciality fertilizer market is segmented as turf & ornamentals, fruits & vegetables, cereals & oilseeds, and others. Turf & ornamentals segment dominated the global speciality fertilizer market in 2018. Turf & ornamental promote better development and root growth and also it optimizes the crop yield. Such factors are predicted to drive segment growth.
North America accounted for major revenue share in the global speciality fertilizers market. Presence of major industry players in the region engaged in producing speciality fertilizers is the foremost factor expected to drive industry growth in North America. Asia Pacific is predicted to grow at highest CAGR over the forecast timeframe. The growth is attributed to increasing demand for environment-friendly agri-inputs and food products in the Asia Pacific.
Some of the key players operating in the global speciality fertilizers market include Sinochem Group, Sociedad Quimica y Minera S.A., The Mosaic Company, Yara International ASA, Potash Corporation, Agrium Inc., Haifa Chemicals and EuroChem. Industry players are majorly focusing on new product launches, acquisition and collaboration strategy in order to gain major revenue share.
Global Speciality Fertilizer Market: Type Segment Analysis
Global Speciality Fertilizer Market: Crop Type Segment Analysis
Cereals & oilseeds
Fruits & vegetables
Turf & ornamentals
Global Speciality Fertilizer Market: Regional Segment Analysis
Middle East and Africa
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